Given their biz model in decline and questionable demand for real estate in this economy.
We notice this EPIC pricetag reported by the KC Biz Journal . . .
"The Royals' TIF plan lists $80 million in anticipated land costs, which may hint at a purchase price well above market value for Hallmark's headquarters."
Context . . .
TAXPAYERS BUYING FAILING COMMERCIAL REAL ESTATE MIGHT BE ONE OF OUR WORST INVESTMENTS!!!
A bit of proof about the unfair swap in this report:
Cities Confront Mounting Revenue Risks From Empty Offices
About the numbers:
"Six years after the pandemic sent many employees to work from home, office vacancies remain 50% above pre-2020 rates. As many experts recognized from the start, the shift to remote and hybrid work has potentially far-reaching consequences for city governments that depend on commercial property taxes for revenue and on vibrant downtowns for economic growth."
And so . . .
BEHIND THE SCENES: AN EPIC COMMERCIAL REAL ESTATE BAILOUT IS ONE OF THE MANY CLANDESTINE MOTIVES OF THIS SKETCHY NEW STADIUM BUILD!!!
A few more deets and a link . . .
"Hallmark Cards' aging Kansas City headquarters may fetch well above market value in the Royals' $3 billion ballpark district redevelopment plan."
Read more via www.TonysKansasCity.com link . . .
Royals may pay Hallmark a premium for Crown Center stadium site - Kansas City Business Journal
Skip the paywall and read by way of Internet archive or public library card.
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